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Grey River Argus, 15 December 1937, Page 7

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I N.Z. SHARE MARKET. I [Per Press Association). CHKibiuriUKurt, December 14. , bales: E.S. and A. Bank £5 7s ' united Building 21s, Tooths Brewery 52s 8d (3), Aust. Glass 92s 6d (2), Broken Hill Ply. 62s 6d (2), D.I.C. 16s, ' woolworth’s USouth Ainca) 14s -tu (2). Keported: Goldsbrough Mort, ’ 32s 8d (late sale .yesterday;, Dunedin • .Drainage Board 41 per cent, 1/1/bJ, ’ £lO4. WELLINGTON, December 14. Sales, morning call: Hour per cent. Stock 1946 £lO3, 1949, 11U2 lbs; 1 Goldsbrough Mort. £1 12s Bd, Bntisn Tobacco £2 9s 9d, G. J. Coles £4 4s lOd, Younghusband £1 13s 6d. sales, noon can: 4 per cent. Stock 1946, 103 s, Union Steam pref. 27s oC- ; DUNEDIN, December 14. Sales: Broken Hill South £1 17s 3(1 (2), Nokomai 2s 4d (2), Peter’s American Delicacies £2 14s 4d. AUCKLAinD, December 14. Sales: Commercial Bank 16s Hd, ’ E.S. and A. Hank i 5 6s bd, iNationai t Bank 555, Bank of New Zealand ex y div. 43s Bd, Mortgage ex. div. 29s (2), ’ Broken Hill Pty. 635, Consolidated Brick 7s sd, Farmers’ Trading 2us, 3 Mt. Morgan 11s 4d. ; Sales, 12.15 call: South British £34 r 7s Bd, Guaranteed Corp. -4s 6d, Broken - Hill £3 2s 6d, Colonial Sugar £47 10s, Bycroft £2 6d, Cbnsol Brick 7s ac (2), Farmers’ Fert. 19s 6d ’ SY din BY, December 14. Austral Gas A. £7 9s, Associated News 23s 6d, British Tobacco 50s 6d, Broken Hill Proprietary 63s 6d, Electrolytic Zinc pref, 49s 6d, Henry Jones 48s. SHARE BROKER’S VIEWS. ‘ PRETTY CONTRADICTORY.

AUCKLAND, December 14. “Speaking generally, the brokers have had a profitable year,” said the chairman of the Auckland Stock Exchange (Mr. John W. Frater), at ths annual meeting, to-day. “While probably not quite as large as 1936, the turnover on the Stock Exchanges throughout the Dominion has been heavy. The turnover in Government and municipal securities has been considerably less than last year with narrow price fluctuations. Bank and insurance shares have shown little variation. Australian industrials generally are at lower levels than a year ago, but this is mainly aue to overseas influences. Metal stocks were throughout the year the outstanding feature of the market, and fluctuations immediately reflected on other industrials. Values for these commodities seem to have reached near bottom, and with production and consumption fairly evenly balanced, some improvement seems probable. The turnover in goldmining shares was lighter than for many years. It seems certain that unless some concessions, such as the abolition of the iniquitous gold tax, is given, the output of gold is certain to decline.” I Discussing the overseas market, Mr. Frater said: “Possibly, we will be call:ed upon to face lower prices for our I primary products and it remains to be ■ seen how the Government can continue its policy of lavish expenditure, without sei’ious repercussions. Already, many industries are feeling the pinch of shorter hours, high wages, and heavy taxation, and it may prove difficult for even our old well-established industries to operate profitably, and in view of the fear or further interference and the small prospect of a reasonable return being received on the capital involved, there will be little incentive to establish new industries. Mr. G. R. Buttle was elected chairman for tne ensuing year. He is a nephew of a well-known chairman in the early days, Mr. G. A. Buttle. WOOL GROWERS’ THREATEN BOYCOTT. MELBOURNE, December 14. A warning that if the practice of • curtailing wool offerings is continued ' after Christmas, buyers may retaliate ■by refusing'to attend sales, was given > by the President of the Victorian ■ Woolbuyers’ Association (Mr. Whitehead) before the wool sales began at f Melbourne yesterday. i Mr. Whitehead’s warning is interpreted as a threat of boycott. Because of an improvement in the market during the last few days, however, it is i not expected that the offerings will be < further curtailed.